IQV vs WST: Correlation
How closely do IQVIA (IQV) and West Pharmaceutical Services (WST) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and WST?
On 3 years of weekly data the IQV/WST correlation comes out at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.28) sits close to the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 544.9 %².
Within IQV's tracked universe of 37 assets, WST comes in at #22 by 3-year correlation. Neither side won the trailing year by much: +39.0% against +41.1%. This link changes with the market regime, having swung between -0.20 and 0.65 on a rolling one-year basis.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IQV vs WST: side by side
| IQV (IQVIA) | WST (West Pharmaceutical Services) | |
|---|---|---|
| 1-year return | +39.0% | +41.1% |
| 5-year return | +0.3% | -22.4% |
| Volatility (ann.) | 37.9% | 38.6% |
| Beta vs S&P 500 | 0.93 | 0.86 |
| Max drawdown (3Y) | -47.1% | -53.8% |
| Market cap | $43.2B | $24.4B |
| P/E (trailing) | 32.6 | 44.8 |
| Dividend yield | 0.00% | 0.25% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | IQV | WST |
|---|---|---|
| 2022 | -27.4% | -49.7% |
| 2023 | +12.9% | +50.0% |
| 2024 | -15.1% | -6.8% |
| 2025 | +14.7% | -15.7% |
| 2026 | +16.4% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and WST good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IQV and WST?
The IQV/WST correlation stands at 0.37 on a 3-year window (1 year: 0.28, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is WST a good diversifier for IQV?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iqv-vs-wst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iqv-vs-wst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IQV correlations · WST correlations
